Anterix (NASDAQ:ATEX) Trading Up 7.6% - Here's Why

Anterix Inc. (NASDAQ:ATEX - Get Free Report) shares rose 7.6% during mid-day trading on Wednesday . The company traded as high as $39.50 and last traded at $38.93. Approximately 114,537 shares traded hands during trading, a decline of 23% from the average daily volume of 148,424 shares. The stock had previously closed at $36.16.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on shares of Anterix from $61.00 to $67.00 and gave the stock an "overweight" rating in a research note on Thursday.

Anterix Stock Up 2.8 %

The business's fifty day simple moving average is $30.93 and its 200 day simple moving average is $33.94.

Insiders Place Their Bets

In other news, Director Mark Fleischhauer purchased 3,500 shares of Anterix stock in a transaction dated Thursday, December 5th. The stock was bought at an average price of $34.19 per share, with a total value of $119,665.00. Following the completion of the acquisition, the director now owns 3,500 shares in the company, valued at $119,665. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie B. Daniels purchased 2,000 shares of Anterix stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average cost of $32.75 per share, with a total value of $65,500.00. Following the acquisition, the director now owns 2,000 shares of the company's stock, valued at approximately $65,500. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 45.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Anterix

Several institutional investors have recently bought and sold shares of the stock. DG Capital Management LLC bought a new stake in Anterix in the fourth quarter worth about $13,158,000. FMR LLC raised its holdings in Anterix by 76.4% during the 3rd quarter. FMR LLC now owns 250,955 shares of the company's stock worth $9,451,000 after buying an additional 108,683 shares during the period. Garnet Equity Capital Holdings Inc. raised its holdings in Anterix by 33.3% during the 4th quarter. Garnet Equity Capital Holdings Inc. now owns 388,829 shares of the company's stock worth $11,925,000 after buying an additional 97,127 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Anterix during the 4th quarter worth about $2,405,000. Finally, Jane Street Group LLC raised its holdings in Anterix by 78.2% during the 3rd quarter. Jane Street Group LLC now owns 128,892 shares of the company's stock worth $4,854,000 after buying an additional 56,559 shares during the period. Institutional investors and hedge funds own 87.67% of the company's stock.

About Anterix

Anterix Inc operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks and innovative broadband solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico.